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The Briefcase: A money-conjuring trick, billionaires' paradise and so many buzzwords

This was the week in business.

EVERY WEEKEND, TheJournal.ie asks its readers to put their feet up and take a look back at all the goings-on from the world of business.

Once again it’s time to delve deep inside The Briefcase for all the important – and sometimes less-important – financial news that has come out this working week:

Irelands Presidency of the European Union Source: Mark Stedman/Photocall Ireland

Need to know

When I get that feeling, I need quantitative easing

Its imminent arrival was one of the worst-kept secrets in the history of economic policy, but this week “Super” Mario Draghi and his cohorts at the European Central Bank officially pulled the trigger on so-called quantitative easing (or QE for short).

And Draghi didn’t disappoint those calling for him to pull out a big bazooka to try and shake the eurozone out of its general malaise.

Draghi ECB president Mario Draghi Source: ECB/TheJournal.ie

The programme – which basically means the ECB will create new money to lend to eurozone governments and banks – came in at a bigger-than-expected €1.1 trillion.

While some of the money will come from existing stimulus schemes, the bulk of that €1,100,000,000,000 will simply be spirited into existence (it looks like more when you include all those zeros).

The announcement quickly had one of the expected effects – it sent the euro reeling against the dollar, pound and other currencies.

Good news for a lot of Irish exporters no doubt, but that holiday or online shopping session just got a bit more painful.

As we noted in this little explanation on the ins and outs of QE, glamour model-turned businesswoman Katie Price has previously used Twitter to offer a few thoughts on QE and several other macroeconomic policy areas – so we were keen to see what she would have to say after the big announcement on Thursday.

We couldn’t agree more.

Nice to know

Enda Kenny Davos Taoiseach Enda Kenny at Davos this week Source: Michel Euler/AP/Press Association Images

sun soccer Source: EMPICS Entertainment

  • The International Monetary Fund came and went, with boss Christine Lagarde stopping to give Ireland a pat on the head as the “good performer” out of the bailed-out countries. But she poured cold water on the Greek opposition’s calls for a Europe-wide conference to address the issue of crippling debt

Now you know

Shebeen3 Source: The Shebeen

Bose bus Source: Elsie esq.

One for the road

There’s a lot to love about NFL TV coverage. Even if you’re not sure why there’s a bunch of 150kg men dressed like they’re in the bomb squad running straight into each other.

And this four-minute video of bad lip reading, courtesy of our friends at The42.ie, is a good reason to love it roughly 100 times more.

Source: Bad Lip Reading/YouTube

“All I know is this is the bad guy and this is the good one.” Oh, mercy.

Originally published 24/01/2015

READ: Oil wards, Irish milk fans and glitter rage >

READ: Anglo boss’s ‘outright lies’, Welfare Wednesday and oil like water >

About the author:

Peter Bodkin  / Editor, Fora

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